Lords LB Asset Management obtains financing for construction of PV portfolio in Poland
March, 2024 - Poland
The borrower is aholding company, PL-SUN sp. zo.o., incorporated in Poland for the purpose of constructing and operating aportfolio of solar power plants. It is owned and sponsored by aLithuanian closed-end investment company, UAB Atsinaujinančios Energetikos Investicijos (AEI), focused on renewable energy investments and managed by Lords LB Asset Management. AEI currently operates aportfolio of around 250 MW in Poland and Lithuania.
The construction bridge financing loan, in equal contributions of EUR 22.5 million from each institution, will finance the construction of aportfolio of 16 photovoltaic power plants with atotal installed capacity of 114.7 MW across Poland. The plants are projected to generate atotal of 122.5 GWh of electricity and cut 88,000 tonnes of carbon dioxide emissions annually.
Our advice included structuring of the transaction, negotiation and drafting of financing documentation, and assisting in fulfilment of conditions for disbursement of the loan.
Our team consisted ofKonrad Werner(counsel), Patryk Jackiewicz (associate), andŁukasz Szegdaas the partner supervising the team.
The lenders were advised by Dentons.
